Posts Tagged New York City

NYC Beats out Los Angeles as the Least Affordable Rental Market

John Burns Real Estate Consulting conducted a study of 40 US metropolitan areas where they compared rental rates with median incomes.  Six of the ten least affordable are here in California.  The six and their rent to income ratios are as follows:

10.  Riverside – San Bernardino    25%

9.  San Jose    25%

8.  Orange County    26%

7.  San Diego    28%

3.  San Francisco    33%

2.  Los Angeles    36%

Leading the country with the least affordable rental market was New York City with a rent to income ratio at a whopping 52%.  When my husband first moved from NYC to San Francisco a realtor told him that she loved working with New Yorkers because they were the only clients that didn’t get sticker shock.  Now we know why.

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